EXHIBIT 99.1

                        DIAMOND OFFSHORE DRILLING, INC.
                     RIG STATUS REPORT AS OF AUGUST 2, 2004




    RIG NAME                           WD         DESIGN                     LOCATION             STATUS*              OPERATOR
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                                                   
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Quest                          3,500'     Victory Class                  GOM               Contracted             SDC/Pogo
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Star                           5,500'     Victory Class                  GOM               Contracted            Kerr-McGee
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean America                        5,500'     Ocean Odyssey                  GOM               Contracted             Mariner
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant                        5,500'     Ocean Odyssey                  GOM               Contracted               ENI
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Victory                        5,500'     Victory Class                  GOM                  Idle                  DODI
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence                     7,500'     DP Aker H-3.2                  GOM               Contracted                BP
                                                Modified
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Concord                        2,200'     F&G SS-2000                    GOM                  Idle                  DODI
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington                      2,200'     F&G SS-2000                    GOM               Contracted        Walter Oil & Gas
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga                       2,200'     F&G SS-2000                    GOM               Contracted               LLOG
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC JACKUPS (12)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Crusader                        200'      Mat Cantilever                 GOM               Contracted         Walter Oil & Gas
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Drake                           200'      Mat Cantilever                 GOM               Contracted             ADTI/CMI
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Champion                        250'      Mat Slot                       GOM                  Idle                  DODI
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Columbia                        250'      Independent Leg                GOM               Contracted            Kerr-McGee
                                                Cantilever
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spartan                         300'      Independent Leg                GOM               Contracted               LLOG
                                                Cantilever
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spur                            300'      Independent Leg                GOM               Contracted     Houston Exploration
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean King                            300'      Independent Leg                GOM               Contracted            SDC/Devon
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Nugget                          300'      Independent Leg                GOM               Contracted            Spinnaker
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Summit                          300'      Independent Leg                GOM               Contracted               LLOG
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Warwick                         300'      Independent Leg                GOM               Contracted            Kerr-McGee
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Titan                           350'      Independent Leg                GOM               Contracted           Stone Energy
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Tower                           350'      Independent Leg                GOM               Contracted          EOG Resources
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------


                                    1

- -----------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLE17)
- -----------------------------------------------------------------------------------------------------------------------------------
MEXICO
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador                     1,100'     Bethlehem SS-2000              GOM               Contracted              PEMEX
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington                    1,500'     Aker H-3                       GOM               Contracted              PEMEX
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Worker                         3,500'     F&G 9500 Enhanced              GOM               Contracted              PEMEX
                                                Pacesetter
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown                       2,850'     F&G SS-2000                    GOM               Contracted              PEMEX
- -----------------------------------------------------------------------------------------------------------------------------------

AFRICA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad                          1,200'     Aker H-3                      Gabon              Contracted           Vaalco/SASOL
- -----------------------------------------------------------------------------------------------------------------------------------

NORTH SEA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian                       1,500'     Earl & Wright Sedco         North Sea            Contracted              Shell
                                                711 Series
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Princess                       1,500'     Aker H-3                    North Sea            Contracted             Talisman
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard                       1,500'     Bingo 3000                  North Sea            Contracted             Talisman
- -----------------------------------------------------------------------------------------------------------------------------------

AUSTRALASIA
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Bounty                         1,500'     Victory Class              New Zealand           Contracted               NZOP
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot                        1,500'     Bingo 3000                  Under tow         Mobe to Australia           DODI
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch                          1,640'     Korkut                      Australia            Contracted              Santos
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean General                        1,640'     Korkut                       Vietnam             Contracted              PVE&P
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Baroness                       7,000'     Victory Class               Indonesia            Contracted              Unocal
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Rover                          7,000'     Victory Class               Malaysia             Contracted              Murphy
- -----------------------------------------------------------------------------------------------------------------------------------


                                    2

BRAZIL
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy                          3,300'     DP DYVI Super Yatzy          Brazil              Contracted            Petrobras
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Winner                         3,500'     Aker H-3                     Brazil              Contracted            Petrobras
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Alliance                       5,000'     Alliance Class               Brazil              Contracted            Petrobras
- -----------------------------------------------------------------------------------------------------------------------------------


INTERNATIONAL DRILLSHIPS (1)
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Clipper                        7,500'     DP Fluor/Mitsubishi          Brazil              Contracted            Petrobras
- -----------------------------------------------------------------------------------------------------------------------------------

INTERNATIONAL JACKUPS (2)
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign                       250'      Independent Leg             Indonesia            Contracted           Amerada Hess
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Heritage                        300'      Independent Leg              Ecuador             Contracted           Noble Energy
                                                Cantilever
- -----------------------------------------------------------------------------------------------------------------------------------

COLD STACKED (4)
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Liberator                       600'      Aker H-3                    S. Africa           Cold Stacked              DODI
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor                       2,000'     Victory Class                  GOM              Cold Stacked              DODI
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager                        3,200'     Victory Class                  GOM              Cold Stacked              DODI
- -----------------------------------------------------------------------------------------------------------------------------------
Ocean New Era                        1,500'     Korkut                         GOM              Cold Stacked              DODI
- -----------------------------------------------------------------------------------------------------------------------------------

NOTES:
* GENERALLY, RIG UTILIZATION RATES APPROACH 95-98% DURING CONTRACTED PERIODS;
HOWEVER, UTILIZATION RATES CAN BE ADVERSELY IMPACTED BY ADDITIONAL DOWNTIME DUE
TO UNSCHEDULED REPAIRS AND MAINTENANCE, WEATHER CONDITIONS AND OTHER FACTORS.

GOM = Gulf of Mexico

                                       3



                             ** TABLE CONTINUED **






    RIG NAME                               CURRENT TERM                      DAYRATE (000S)                START DATE
- ------------------------------------------------------------------------------------------------------------------------------------
                                                                                            
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Quest                                   one well                          high 30's                early July 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Star                             second of three wells plus               low 60's                early June 2004
                                               option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean America                          second of three wells plus               mid 70's                  mid June 2004
                                               option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant                        second of three wells plus                 high 50's                 late Dec. 2003
                                               option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Victory                                     -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence                           five-year term                         170's                  early Jan. 2001
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Concord                                     -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington                         one well plus option                    high 40's                late March 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga                          one well extension plus                 low 40's                 late June 2004
                                                option
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC JACKUPS (12)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Crusader                          one well plus option                     low 30's                 late July 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Drake                             one well plus option                     low 30's                 late July 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Champion                                    -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Columbia                                one well                           low 30's                 late May 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spartan                           one well plus option                     mid 30's                 mid July 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spur                              one well plus option                    high 30's                 late June 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean King                              one well plus option                     mid 30's                  mid May 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Nugget                                  one well                           mid 30's                early Aug. 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Summit                           three wells plus option                   mid 30's                  mid May 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Warwick                                 one well                           mid 30's                 late June 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Titan                              first of two wells plus                 mid 40's                 mid July 2004
                                               option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Tower                             two wells plus option                   high 30's                 mid July 2004
- ------------------------------------------------------------------------------------------------------------------------------------

                                       1

- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLES (17)
- ------------------------------------------------------------------------------------------------------------------------------------
MEXICO
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador                         four year term work                     mid 50's                 late July 2003
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington                        four year term work                     low 60's                 late July 2003
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Worker                             four year term work                    high 60's                 mid Aug. 2003
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown                           four year term work                     mid 40's                 late Oct. 2003
- ------------------------------------------------------------------------------------------------------------------------------------

AFRICA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad                            three wells plus option                  high 40's                 early May 2004
- ------------------------------------------------------------------------------------------------------------------------------------

NORTH SEA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian                                one year                          high 40's                late March 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Princess                          second of two wells plus                low 50's                 mid Feb. 2004
                                                option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard                                one well                           low 60's                 late June 2004
- ------------------------------------------------------------------------------------------------------------------------------------

AUSTRALASIA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Bounty                             one option declared                     low 70's                 mid July 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot                                     -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch                                Exeter/Mutineer                      mid 60's                  mid Jan. 2004
                                        development plus option
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean General                          five completion options                   mid 50's                 mid June 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Baroness                             180 day option                         110's                  late April 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Rover                           second of two firm wells                  high 110's               late July 2004
                                             plus options
- ------------------------------------------------------------------------------------------------------------------------------------

                                       2

BRAZIL
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy                               700 day extension                      mid 70's                early Nov. 2003
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Winner                              700 day extension                      mid 50's                early April 2004
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Alliance                           four-year contract                       110's                  early Sept. 2000
- ------------------------------------------------------------------------------------------------------------------------------------


INTERNATIONAL DRILLSHIPS (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Clipper                             700 day extension                     low 100's                early Jan. 2003
- ------------------------------------------------------------------------------------------------------------------------------------

INTERNATIONAL JACKUPS (2)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign                         two wells plus two option               high 30's                early April 2004
                                                wells
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Heritage                          third of three wells                     mid 50's                 mid Feb. 2004
- ------------------------------------------------------------------------------------------------------------------------------------

COLD STACKED (4)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Liberator                                   -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor                                    -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager                                     -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean New Era                                     -                                 -                           -
- ------------------------------------------------------------------------------------------------------------------------------------

NOTES:
* GENERALLY, RIG UTILIZATION RATES APPROACH 95-98% DURING CONTRACTED PERIODS;
HOWEVER, UTILIZATION RATES CAN BE ADVERSELY IMPACTED BY ADDITIONAL DOWNTIME DUE
TO UNSCHEDULED REPAIRS AND MAINTENANCE, WEATHER CONDITIONS AND OTHER FACTORS.

GOM = Gulf of Mexico

                                       3



                             ** TABLE CONTINUED **





    RIG NAME                           EST. END DATE            FUTURE CONTRACT AND OTHER INFORMATION
- ------------------------------------------------------------------------------------------------------------------------------------
                                                          
DOMESTIC DEEPWATER SEMISUBMERSIBLES (6)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Quest                            early Aug. 2004          One well plus option with Noble Energy in low 50's beginning early
                                                                Aug. and ending late Sept. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Star                            mid Sept. 2004            220 day extension with Kerr-McGee in upper 70's beginning mid Sept.
                                                                2004 and ending late April 2005. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean America                          late Oct. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Valiant                          early Oct. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Victory                                 -                 Two wells with W&T Offshore, the first in mid 40's beginning mid Aug
                                                                with rate adjusting to mid 70's in late Sept. and contract ending in
                                                                late Nov. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Confidence                       early Jan. 2006          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC 2ND/3RD GENERATION SEMISUBMERSIBLES (3)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Concord                                 -                 Approximately 120 days maintenance beginning early June and ending
                                                                early  Oct. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Lexington                         mid Aug. 2004           One well extension plus option with Walter in high 30's beginning
                                                                mid Aug. and ending early Sept. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Saratoga                       early August 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

DOMESTIC JACKUPS (12)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Crusader                         late Aug. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Drake                             mid Aug. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Champion                                -                 Reactivation from cold stack. Expected availability mid Aug. 2004.
                                                                Actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Columbia                         early Aug. 2004          One option well with Kerr-McGee in mid 30's beginning early Aug.
                                                                and ending early Sept. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spartan                           mid Aug. 2004           Two wells plus option with LLOG in high 30's beginning mid Aug. and
                                                                ending mid Nov. 2004. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Spur                              mid Aug. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean King                             early Aug. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Nugget                           late Sept. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Summit                           early Aug. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Warwick                          early Aug. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Titan                            early Oct. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Tower                            mid Sept. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

                                       1

- ------------------------------------------------------------------------------------------------------------------------------------
INTERNATIONAL SEMISUBMERSIBLES (17)
- ------------------------------------------------------------------------------------------------------------------------------------
MEXICO
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Ambassador                        mid Dec. 2007           Available.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Whittington                      early Oct. 2006          Available.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Worker                           late July 2007           Available.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yorktown                          mid July 2007           Available.
- ------------------------------------------------------------------------------------------------------------------------------------

AFRICA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Nomad                            late Sept. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

NORTH SEA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Guardian                         late March 2005          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Princess                         mid Aug. 2004            Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Vanguard                         early Oct. 2004          One well in Norway with ENI in low 140's beginning early Oct. 2004
                                                                and ending early Jan. 2005. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

AUSTRALASIA
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Bounty                            mid Aug. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Patriot                                 -                 Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Epoch                            late Feb. 2005           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean General                           mid Oct. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Baroness                         early Nov. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Rover                            early Sept. 2004         First option well declared by Murphy beginning early Sept. in lower
                                                                120's, and ending early Oct. Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------


                                       2

BRAZIL
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Yatzy                             mid Oct. 2005           Available.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Winner                           mid March 2006           Available.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Alliance                        early Sept. 2004          Available.
- ------------------------------------------------------------------------------------------------------------------------------------


INTERNATIONAL DRILLSHIPS (1)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Clipper                         early March 2006          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

INTERNATIONAL JACKUPS (2)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Sovereign                        early Aug. 2004          Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Heritage                          mid Aug. 2004           Available; actively marketing.
- ------------------------------------------------------------------------------------------------------------------------------------

COLD STACKED (4)
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Liberator                               -                 Cold stacked Nov. '02.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Endeavor                                -                 Cold stacked March '02.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean Voyager                                 -                 Cold stacked March '02.
- ------------------------------------------------------------------------------------------------------------------------------------
Ocean New Era                                 -                 Cold stacked Dec. '02.
- ------------------------------------------------------------------------------------------------------------------------------------

NOTES:
* GENERALLY, RIG UTILIZATION RATES APPROACH 95-98% DURING CONTRACTED PERIODS;
HOWEVER, UTILIZATION RATES CAN BE ADVERSELY IMPACTED BY ADDITIONAL DOWNTIME DUE
TO UNSCHEDULED REPAIRS AND MAINTENANCE, WEATHER CONDITIONS AND OTHER FACTORS.

GOM = Gulf of Mexico

                                       3



                              ** TABLE COMPLETE **